At Car Title Loans California, a fundamental requirement to obtain a pink slip loan is to have a car in your name, and the best thing is that, no matter what model, make, mileage or how old it is, you can still get money.
It is important to clarify this as many people wonder if they can get a loan with their old car from the different agencies that provide this service. And the answer is yes, your car always has something of value that you can use to pay off some debts.
Of course, the newer your car is, the more imperfect it is, the less mileage it is, the more it will be worth. But the important thing is to know that you can get a loan with any type of vehicle, whether you have a trailer, motor home or a car over 10 years old, that will not be an obstacle to opting for the loan.
How is the value of your car calculated?
As you know, the loan you will get will depend entirely on the value of your car. This is why a calculation must be made to estimate what the resale price would be, since if the payment is not made by the due date, the company must proceed to sell your vehicle in order to recover the money from the loan.
So, how do you do this? Well, it is very simple. Let’s say your car has more than 10 years of use, in which case you can borrow up to 60% of the value of your car calculated with a tool known as Kelly Blue Book.
When the lender enters your car data into this tool, it lets them know what the current sale value of your car would be, and from there, a percentage is calculated that is equal to the money you will borrow. However, the total amount of money will depend on other factors depending on each lender’s considerations.
Even if your car is over 10 years old, you won’t have any trouble applying for a loan, nor will you be charged an extra cent when you get your car title loan.
For Car Title Loans California, the comfort and satisfaction of the client is very important, that is why they have made a market study about the type of people who apply for this type of loan in order to offer the best packages that specialize specifically in the particular case of the borrower in question.
In addition, they offer an unparalleled amount of amenities for people to feel confident and secure, without fear of asking questions to clarify all their concerns. One of the most recognized is the speed with which loans are granted and the ease with which they can be processed online.
Because they know that the person applying for the loan is probably in an emergency situation, they were able to use a method in which the requirements are verified quickly enough to deliver the money in a matter of minutes, and some people have even left with the money in their pocket in a matter of half an hour.
If at any point you are undecided and don’t know what the best decision to make is, you can apply for financial aid the same day you apply for your car title loan at Car Title Loans California.
Generally, people get between $2,500 and $50,000 depending on the type of vehicle they drive. Best of all, you can continue to use your car during the loan without any restrictions.